Talvivaara warns on nickel target

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Finnish miner Talvivaara yesterday warned it would miss its nickel production target for 2012, sending its shares on a downward spiral. The miner said historically heavy rainfall at its Sotkamo mine had impacted its ability to deliver a target of 17,000 tonnes of the base metal. The miner produced 4,030 tonnes of nickel in the third quarter and 10,598 tonnes in the year to date. Shares closed down 7.39 per cent yesterday.